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Stournaras officially appointed Bank of Greece governor [Update]

Yannis Stournaras, Greece’s former finance minister, has been officially appointed governor of the Bank of Greece, replacing George Provopoulos.

“As Finance Minister you execute government policy. The governor of the Bank of Greece has very different obligations. Both seek to safeguard the public interest. And currency stability is in the public interest,” Stournaras said.

Conservative Prime Minister Antonis Samaras replaced Stournaras, 57, with Gikas Hardouvelis, an academic and former chief economist at Eurobank Ergasias SA, in a overhaul of his cabinet on June 9.